STT GDC secures Rp8.8 trillion financing to expand Jakarta data centre campus

By Romel S. Gurky

ST Telemedia Global Data Centres (STT GDC) has expanded its Indonesia financing platform with an upsized dual-currency facility worth Rp8.8 trillion (US$491.6 million), including its first green term loan tranche in the country, to support the development of its Jakarta data centre campus.

The Singapore-headquartered data centre operator said the financing will support continued expansion of the STT Jakarta campus, including the construction of STT Jakarta 3 in Cikarang, Bekasi, West Java.

The new facility builds on STT GDC Indonesia's existing secured term loan, revolving credit and trade finance facilities. The financing package includes both U.S. dollar and rupiah components to provide funding flexibility throughout the campus development phase.

A portion of the financing has been structured as a green loan and will be used to fund STT Jakarta 3, which is designed to support growing demand for cloud computing, artificial intelligence and high-performance computing workloads in Indonesia.

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According to the company, the broader STT Jakarta campus is expected to provide more than 360 megawatts of IT capacity once fully developed.

STT Jakarta 3 is targeting a power usage effectiveness (PUE) ratio of 1.30 and LEED Gold certification. The facility is also designed to accommodate both liquid cooling and advanced air-cooling systems for high-density computing applications.

The green financing tranche has been structured in accordance with Green Loan Principles developed by the Asia Pacific Loan Market Association, Loan Market Association and Loan Syndications and Trading Association.

The financing was arranged by PT Bank OCBC NISP Tbk, PT Bank HSBC Indonesia and PT Bank Negara Indonesia (Persero) Tbk. OCBC and OCBC NISP also acted as coordinating banks, sole green coordinator and facility agent.

STT GDC is one of Asia's largest data centre operators, with facilities across Singapore, Indonesia, India, Thailand, South Korea, Japan, the Philippines, Malaysia, Vietnam and Europe.

Indonesia has emerged as one of Southeast Asia's fastest-growing data centre markets, driven by rising demand for cloud services, artificial intelligence applications and digital infrastructure.

Editing by Alexander Ginting